Interactive Brokers Group Reports Brokerage Metrics and Other Financial Information for July 2024, includes Reg.-NMS Execution Statistics
01 August 2024 - 6:20PM
Business Wire
Interactive Brokers Group, Inc. (Nasdaq: IBKR) an automated
global electronic broker, today reported its Electronic Brokerage
monthly performance metrics for July.
Brokerage highlights for the month included:
- 2.756 million Daily Average Revenue Trades (DARTs)1, 38% higher
than prior year and 12% higher than prior month.
- Ending client equity of $509.5 billion, 32% higher than prior
year and 2% higher than prior month.
- Ending client margin loan balances of $56.1 billion, 30% higher
than prior year and 2% higher than prior month.
- Ending client credit balances of $109.2 billion, including $4.2
billion in insured bank deposit sweeps2, 11% higher than prior year
and 2% higher than prior month.
- 3.00 million client accounts, 29% higher than prior year and 2%
higher than prior month.
- 206 annualized average cleared DARTs1 per client account.
- Average commission per cleared Commissionable Order3 of $2.78
including exchange, clearing and regulatory fees. Key
products:
July 2024
Average
Average Commission per
Order Size
Cleared Commissionable
Order
Stocks
763 shares
$1.86
Equity Options
6.6 contracts
$4.02
Futures
3.0 contracts
$4.21
Futures include options on futures. We
estimate exchange, clearing and regulatory fees to be 57% of the
futures commissions.
Other financial information for Interactive Brokers
Group:
- GLOBAL4: The value of the GLOBAL, reported in U.S. dollars,
increased by 0.38% in July.
In the interest of transparency, we quantify our IBKR PRO
clients’ all-in cost of trade execution below.
For the full multimedia release with graph see link:
https://www.interactivebrokers.com/MonthlyMetrics
- Average U.S. Reg-NMS stock trade was $21,636 in July (dividing
2c by 1a in table below).
- In July, IBKR PRO clients’ total cost of executing and clearing
U.S. Reg.-NMS stocks through IB was about 3.6 basis points of trade
money5, as, measured against a daily VWAP6 benchmark (3.3 basis
points net cost for the rolling twelve months).
IBKR PRO Clients' Reg.-NMS Stock Trading Expense Detail
All amounts are in millions, except %
Previous Aug '23
Sep '23 Oct '23 Nov
'23 Dec '23
Jan '24 Feb '24 Mar
'24 Apr '24
May '24 Jun '24 Jul
'24 12 Months
#1a - Number of orders Buys
6.56
5.14
6.01
5.44
5.61
6.79
7.24
8.51
8.36
8.80
8.07
10.09
86.62
Sells
4.81
3.67
4.29
4.25
4.48
4.92
5.38
6.23
6.21
6.67
5.83
7.55
64.29
Total
11.37
8.81
10.30
9.69
10.09
11.71
12.62
14.74
14.57
15.47
13.90
17.64
150.91
#1b - Number of shares purchased or sold
Shares bought
2,858
2,132
2,447
2,431
2,596
2,639
2,636
3,432
3,387
4,712
3,305
3,855
36,431
Shares sold
2,720
2,044
2,367
2,296
2,471
2,551
2,499
3,189
3,190
4,374
3,100
3,767
34,567
Total
5,578
4,176
4,814
4,727
5,067
5,189
5,135
6,621
6,577
9,087
6,405
7,622
70,998
#2 - Trade money including price, commissions and
fees 2a Buy money
$129,975
$102,405
$124,119
$119,396
$115,908
$133,951
$148,224
$165,938
$161,619
$170,762
$151,903
$189,920
$1,714,120
2b Sell money
$131,518
$103,953
$125,174
$118,893
$114,742
$131,649
$143,433
$163,285
$165,541
$169,343
$147,514
$191,745
$1,706,791
2c Total
$261,493
$206,358
$249,294
$238,290
$230,650
$265,601
$291,657
$329,223
$327,160
$340,105
$299,417
$381,664
$3,420,911
#3 - Trade value at Daily VWAP 3a Buy
value
$129,887
$102,374
$124,109
$119,426
$115,916
$133,917
$148,162
$165,825
$161,534
$170,686
$151,684
$189,851
$1,713,370
3b Sell value
$131,510
$103,980
$125,212
$118,981
$114,806
$131,705
$143,451
$163,313
$165,602
$169,379
$147,417
$191,812
$1,707,166
3c Total
$261,397
$206,353
$249,321
$238,407
$230,722
$265,622
$291,612
$329,138
$327,135
$340,066
$299,101
$381,663
$3,420,536
#4 - Total trade expense, including commissions
and fees, relative to Daily VWAP 4a Buys (2a-3a)
$88.2
$31.3
$9.9
($30.0)
($8.3)
$34.2
$62.5
$113.3
$85.1
$75.4
$219.1
$68.8
$749.4
4b Sells (3b-2b)
($8.0)
$26.6
$37.2
$87.3
$63.8
$55.2
$18.0
$28.0
$60.7
$36.0
($97.1)
$67.5
$375.3
4c Total trade expense
$80.2
$57.9
$47.2
$57.3
$55.6
$89.4
$80.5
$141.3
$145.8
$111.4
$122.0
$136.3
$1,124.7
Trade expense as percentage of trade money
4c/2c
0.031%
0.028%
0.019%
0.024%
0.024%
0.034%
0.028%
0.043%
0.045%
0.033%
0.041%
0.036%
0.033%
#5 - Trade expense categories 5a Total
commissions & fees
$23.6
$18.3
$21.5
$21.1
$21.8
$23.4
$23.7
$29.2
$28.8
$36.1
$30.4
$37.1
$315.0
5b Execution cost (4c-5a)
$56.6
$39.5
$25.7
$36.2
$33.7
$66.0
$56.7
$112.1
$117.0
$75.4
$91.6
$99.2
$809.7
#6 - Trade expense categories as percentage of
trade money Total commissions & fees (5a/2c)
0.009%
0.009%
0.009%
0.009%
0.009%
0.009%
0.009%
0.009%
0.009%
0.011%
0.010%
0.010%
0.009%
Execution cost (5b/2c)
0.022%
0.019%
0.010%
0.015%
0.015%
0.025%
0.019%
0.034%
0.036%
0.022%
0.031%
0.026%
0.024%
Net Expense to IB Clients
0.031%
0.028%
0.019%
0.024%
0.024%
0.034%
0.028%
0.043%
0.045%
0.033%
0.041%
0.036%
0.033%
The above illustrates that the rolling twelve months’ average
all-in cost of an IBKR PRO client U.S. Reg.-NMS stock trade was 3.3
basis points.
________________
Note 1: Daily Average Revenue Trades (DARTs) – customer
orders divided by the number of trading days in the period.
Note 2: FDIC insured client bank deposit sweep program
balances with participating banks. These deposits are not reported
in the Company’s statement of financial condition.
Note 3: Commissionable Order – a customer order that
generates commissions.
Note 4: In connection with our currency diversification
strategy, we have determined to base our net worth in GLOBALs, a
basket of 10 major currencies in which we hold our equity. The
total effect of the currency diversification strategy is reported
in Comprehensive Income and the components are reported in (1)
Other Income and (2) Other Comprehensive Income (“OCI”) on the
balance sheet. The effect of the GLOBAL on our comprehensive income
can be estimated by multiplying the total equity for the period by
the change in the U.S. dollar value of the GLOBAL during the same
period.
Note 5: Trade money is the total amount of money clients
spent or received, including all commissions and fees.
Note 6: Consistent with the clients’ trading activity,
the computed VWAP benchmark includes extended trading hours.
_________________
More information, including historical results for each of the
above metrics, can be found on the investor relations page of the
Company’s corporate web site, www.interactivebrokers.com/ir.
About Interactive Brokers Group, Inc.: Interactive
Brokers Group affiliates provide automated trade execution and
custody of securities, commodities, and foreign exchange around the
clock on over 150 markets in numerous countries and currencies,
from a single unified platform to clients worldwide. We serve
individual investors, hedge funds, proprietary trading groups,
financial advisors and introducing brokers. Our four decades of
focus on technology and automation has enabled us to equip our
clients with a uniquely sophisticated platform to manage their
investment portfolios. We strive to provide our clients with
advantageous execution prices and trading, risk and portfolio
management tools, research facilities and investment products, all
at low or no cost, positioning them to achieve superior returns on
investments. Interactive Brokers has consistently earned
recognition as a top broker, garnering multiple awards and
accolades from respected industry sources such as Barron’s,
Investopedia, Stockbrokers.com, and many others.
Cautionary Note Regarding Forward-Looking Statements: The
foregoing information contains certain forward-looking statements
that reflect the company's current views with respect to certain
current and future events and financial performance. These
forward-looking statements are and will be, as the case may be,
subject to many risks, uncertainties and factors relating to the
company's operations and business environment which may cause the
company's actual results to be materially different from any future
results, expressed or implied, in these forward-looking statements.
Any forward-looking statements in this release are based upon
information available to the company on the date of this release.
The company does not undertake to publicly update or revise its
forward-looking statements even if experience or future changes
make it clear that any statements expressed or implied therein will
not be realized. Additional information on risk factors that could
potentially affect the company's financial results may be found in
the company's filings with the Securities and Exchange
Commission.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240801636666/en/
Interactive Brokers Group, Inc.: Rob Garfield -
media@ibkr.com
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